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Daily Archives: May 9, 2021
Global CRISPR Genome Editing Market by Type (Genetic Engineering, Gene Library, Human Stem Cells, Others), By Application (Biotechnology Companies,…
Posted: May 9, 2021 at 11:48 am
Industry Growth Insights published a new data on CRISPR Genome Editing Market. The research report is titled CRISPR Genome Editing Market research by Types (Genetic Engineering, Gene Library, Human Stem Cells, Others), By Applications (Biotechnology Companies, Pharmaceutical Companies, Others), By Players/Companies Editas Medicine, CRISPR Therapeutics, Horizon Discovery, Sigma-Aldrich, Genscript, Sangamo Biosciences, Lonza Group, Integrated DNA Technologies, New England Biolabs, Origene Technologies, Transposagen Biopharmaceuticals, Thermo Fisher Scientific, Caribou Biosciences, Precision Biosciences, Cellectis, Intellia Therapeutics. As per the latest research CRISPR Genome Editing market is expected to expand at a CAGR of xx% in the forecast period.
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Report Attributes
Report Details
Report Title
CRISPR Genome Editing Market Research Report
By Type
Genetic Engineering, Gene Library, Human Stem Cells, Others
By Application
Biotechnology Companies, Pharmaceutical Companies, Others
By Companies
Editas Medicine, CRISPR Therapeutics, Horizon Discovery, Sigma-Aldrich, Genscript, Sangamo Biosciences, Lonza Group, Integrated DNA Technologies, New England Biolabs, Origene Technologies, Transposagen Biopharmaceuticals, Thermo Fisher Scientific, Caribou Biosciences, Precision Biosciences, Cellectis, Intellia Therapeutics
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2020
Historical Year
2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year
2028
Number of Pages
245
Number of Tables & Figures
172
Customization Available
Yes, the report can be customized as per your need.
The global CRISPR Genome Editing market is segmented on the basis of:
Types
Genetic Engineering, Gene Library, Human Stem Cells, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Biotechnology Companies, Pharmaceutical Companies, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
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Some of the companies that are profiled in this report are:
We have studied the CRISPR Genome Editing Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
Regional Analysis
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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How you may use our products:
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Contact Info: Name: Alex MathewsAddress: 500 East E Street, Ontario,CA 91764, United States.Phone No: USA: +1 909 414 1393Email: [emailprotected]Website: https://industrygrowthinsights.com
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Nobody has proven that Trump and Bolsonaro were wrong in the origin of Sars-CoV-2 08/05/2021 Marcelo Leite KSU | The Sentinel Newspaper – KSU | The…
Posted: at 11:48 am
Like almost all science journalists, the idea that Covid would appear at the Wuhan Institute of Virology (IVW), the city of origin of the pandemic, has been dismissed as a conspiracy theory. Not after reading a report by veteran Nicholas Wade on the Medium website at the suggestion of another animal, lvaro Pereira Jnior.
Not that Donald Trump or Jair Bolsonaro rightly spread the news that the Sars-CoV-2 virus was made by Chinese to bring the world to its knees, far from it. But no one has proven that they were completely wrong; It cannot be ruled out that the corona accidentally escaped from the IVW.
Wade thoroughly reconstructed the pros and cons of the two competing explanations for the virus appearance. The most widely accepted indicates that bats are a natural repository of the pathogen that would have jumped onto humans from an unidentified host (pangolins have been mentioned, but there is no evidence of this).
The other theory is that Sars-CoV-2 infected people from the laboratory of virologist Shi Zengli at the IVW, possibly his staff. Neither hypothesis can be ruled out, but Wade a journalist who has studied genetic engineering since its inception in the 1970s argues that the evidence supports the latter.
First, some reasons he had queued against declaring a natural origin for the zoonosis. No population of bats has been found with this particular variety of coronavirus, which incidentally have difficulty infecting them, nor with the intermediate animal.
Caves, where there are many suspicious chiropters, are 1,500 km from Wuhan, and the beetles do not fly more than 50 km. There is no biological or molecular evidence that Sars-CoV-2 has undergone changes characteristic of the adaptations expected in a long inter-species transfer process.
There is no medical record of atypical pneumonia nearby where bat and human populations are in close contact (this is not the case with Wuhan). Previous cases of Covid have been discovered that had nothing to do with the market, which was originally cited as a base in the city.
Articles by critics of conspiracy theory claim that the new coronavirus does not bear the scars typical of laboratory-built viruses. Wade counters that there are other techniques to modify their genomes that would not leave the traces skeptics seek.
Shi specialized in collecting bats and beta coronaviruses in caves and in the genetic manipulation of the pathogen. The experiments involved gain in function: modification of proteins such as S (Spike) to increase infectivity in human cells under the pretext of acquiring knowledge in order to identify wild varieties with pandemic potential.
In the fall, before the Covid outbreak was detected in Wuhan, IVW officials fell ill with symptoms compatible with Covid and were hospitalized. The Chinese government sealed all the institutes records and documents and controlled the steps taken by the WHO commission investigating the origin of Sars-CoV-2, which is far from conclusive.
The report lists intricate technical details that indicate a laboratory leak. Things like sequences of genetic letters (bases), which are typical of humans, which are used in experiments to obtain function, also by Shi ironically with funds from the US National Institutes of Health (NIH).
Reading Wades investigation becomes mandatory. Especially for those who, like me, very much rejected an artificial origin for the new coronavirus because Trump and Bolsonaro could only have a lie.
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22nd Century Group Reports Business Highlights and Financial Results for the First Quarter 2021 – GlobeNewswire
Posted: at 11:48 am
Key Business and Financial Highlights
Note: All financials referenced in this release are in conformity with U.S. Generally Accepted Accounting Principles (GAAP) and comparisons in this release are to the same period in the prior year unless otherwise noted.
BUFFALO, N.Y., May 06, 2021 (GLOBE NEWSWIRE) -- 22nd Century Group,Inc. (NYSE American: XXII), a leading plant-based, biotechnology company focused on tobacco harm reduction, reduced nicotine tobacco, and hemp/cannabis research, announced today that the Company filed its 2021 First Quarter Report on Form 10-Q with the U.S. Securities and Exchange Commission. The Company will provide a business update for investors on a live audio webcast to be held today at 10:00 a.m. ET.
James A. Mish, chief executive officer of 22nd Century Group, together with Michael Zercher, president and chief operating officer, and John Franzino, chief financial officer, will host the webcast. Interested parties are invited to participate by visiting the Events section on the Companys Investor Relations website at http://www.xxiicentury.com/investors/events. Following prepared remarks, the Company will host a Q&A session during which management will accept questions from industry analysts. Investors, shareholders, and members of the media will also have the opportunity to submit their questions through the interactive webcast.
Our 2021 is off to an exciting start as we anticipate achieving multiple key milestones that will dramatically expand our commercial opportunities in both our tobacco and hemp/cannabis franchises, said James A. Mish, chief executive officer of 22nd Century Group. I remain highly confident in our MRTP authorization. We continue to steadily increase our advocacy activities at both the federal and state levels to achieve MRTP authorization, in support of this critical public health issue. In addition to our primary VLN launch strategy to go to market within 90 days of authorization, we remain willing to license our technology to every cigarette manufacturer to help them join us in our efforts to reduce the harm caused by smoking and to protect future generations from ever becoming addicted to cigarettes. Our technology and capabilities make the FDAs reduced nicotine mandate feasible. According to the Centers for Disease Control and Prevention (CDC), 80% of U.S. adult cigarette smokers favor requiring cigarette makers to reduce nicotine levels in cigarettes, so they are less addictive.
The first quarter also saw a continued strong cadence of moves by both state and federal government bodies advancing marijuana legalization, including positive changes in policy on both the medical and recreational use cases, Mish continued. 22nd Century has established a strong position in the upstream hemp/cannabis market through our focus on plant genetics and IP critical to the successful commercialization of consumer products at the scale the market will ultimately demand. In doing so, we have positioned ourselves to provide valuable, tailored plant lines similar to a boutique Monsanto focused on high-value markets, including tobacco, hemp/cannabis, and our third franchise.
Tobacco Franchise Highlights and Recent Key Events
Hemp/Cannabis Franchise Highlights and Recent Key Events
2021 Priorities and Areas of Focus
2021 First Quarter Financial Results
Balance Sheet and Liquidity
First Quarter Earnings Conference Call
22nd Century will host a live audio webcast today at 10:00 a.m.ET to discuss its first quarter 2021 financial results and business highlights. Following prepared remarks, the Company will host a Q&A session during which management will accept questions from interested analysts. Investors, shareholders, and members of the media will also have the opportunity to pose questions to management by submitting questions through the interactive webcast during the event.
James A. Mish, chief executive officer of 22nd Century Group, together with Michael Zercher, chief operating officer, and John Franzino, chief financial officer, will host the webcast. Interested parties are invited to participate by visiting the Events section on the Companys Investor Relations website at http://www.xxiicentury.com/investors/events. An archived replay of the webcast and the event transcript will also be available shortly after the live event has concluded.
About 22nd Century Group,Inc.
22nd Century Group, Inc. (NYSE American: XXII) is a leading plant biotechnology company focused on technologies that alter the level of nicotine in tobacco plants and the level of cannabinoids in hemp/cannabis plants through genetic engineering, gene-editing, and modern plant breeding. 22nd Centurys primary mission in tobacco is to reduce the harm caused by smoking through the Companys proprietary reduced nicotine content tobacco cigarettes containing 95% less nicotine than conventional cigarettes. The Companys primary mission in hemp/cannabis is to develop and commercialize proprietary hemp/cannabis plants with valuable cannabinoid profiles and desirable agronomic traits.
Learn more atxxiicentury.com, on Twitter@_xxiicentury,and onLinkedIn.
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Forward-looking statements typically contain terms such as anticipate, believe, consider, continue, could, estimate, expect, explore, foresee, goal, guidance, intend, likely, may, plan, potential, predict, preliminary, probable, project, promising, seek, should, will, would, and similar expressions. Actual results might differ materially from those explicit or implicit in forward-looking statements. Important factors that could cause actual results to differ materially are set forth in Risk Factors in the Companys Form 10-K filed on March 11, 2021. All information provided in this release is as of the date hereof, and the Company assumes no obligation to and does not intend to update these forward-looking statements, except as required by law.
Below is a table containing information relating to the Companys Adjusted EBITDA for the three months ended March 31, 2021 and 2020, including a reconciliation of net (loss) income to Adjusted EBITDA for such periods.
1Fav = Favorable variance, which increases Adjusted EBITDA; Unfav = unfavorable variance, which reduces Adjusted EBITDA
Adjusted EBITDA, which the Company defines as earnings before interest, taxes, depreciation and amortization, as adjusted by the Company for certain non-cash and non-operating expenses, as well as certain one-time expenses, is a financial measure not prepared in accordance with generally accepted accounting principles (GAAP). In order to calculate Adjusted EBITDA, the Company adjusts the net (loss) income for certain non-cash and non-operating income and expense items listed in the table above in order to measure the Companys operating performance. The Company believes that Adjusted EBITDA is an important measure that supplements discussions and analysis of its operations and enhances an understanding of its operating performance. While management considers Adjusted EBITDA to be important, it should be considered in addition to, but not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP, such as operating loss, net (loss) income and cash flows from operations. Adjusted EBITDA is susceptible to varying calculations and the Companys measurement of Adjusted EBITDA may not be comparable to those of other companies.
Investor Relations & Media Contact:Mei KuoDirector, Communications & Investor Relations22nd Century Group, Inc.(716) 300-1221mkuo@xxiicentury.com
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Global CRISPR and CAS Gene Market to Surpass US$ 3494.4 Million by 2027, Says Coherent Market Insights (CMI) – Business Wire
Posted: at 11:48 am
SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global CRISPR and CAS gene market is estimated to be valued at US$ 830.7 million in 2020 and is expected to exhibit a CAGR of 22.8% during the forecast period (2020-2027).
Key Trends and Analysis of the Global CRISPR and CAS Gene Market:
Key trends in the market include increasing research and development activities, product launches, inorganic activities such as collaborations, and others.
Key players are focusing on increasing research and development for new treatments for genetic disorders, which is expected to drive the growth of the global CRISPR and CAS gene market over the forecast period. For instance, in June 2019, GlaxoSmithKline Plc partnered with gene-editing pioneers based at the University of California (UC) to establish a new laboratory that aims to speed up discovery of new treatments by exploring how gene mutations cause disease, and developing new CRISPR-based technologies.
Market players are indulged in launching new kits, which is expected to drive growth of the market over the forecast period. For instance, in June 2019, Synthego, a global genome engineering solutions company, announced the launch of the Gene Knockout Kit v2. This is the only product that leverages a novel bioinformatics- powered multi-guide strategy to guarantee a gene knockout. The kit will accelerate research by saving scientists from multiple trial-and-error cycles in optimizing their CRISPR experiment.
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Various biotechnology and pharmaceutical companies are focusing on collaborations to conduct research and development for treatment of diseases such as cancer, AIDS, genetic diseases, and others, which is expected to drive growth of the market. For instance, in October 2019, CRISPR Therapeutics and Bayer announced plans for a joint venture between CRISPR Therapeutics and Bayer and Casebia Therapeutics would operate under the direct management of CRISPR Therapeutics. Casebia Therapeutics would focus on the development of its lead programs in hemophilia, ophthalmology, and autoimmune diseases.
Key Market Takeaways:
Increasing prevalence of genetic disorders such as Downs syndrome, Sickle cell anemia, and Huntingtons disease worldwide is expected to drive the growth of the global CRISPR and CAS gene market over the forecast period. For instance, according to National Health Service (NHS) U.K., 2018 report, the highest rate of Huntingtons disease in the U.K. is 12 per 100,000 people.
Among all the regions, North America is expected to hold a dominant position in the global CRISPR and CAS gene market over the forecast period, owing to the increasing number of research studies regarding the CRISPR and CAS gene technology in the region. For instance, in 2017, Editas partnered with Juno Therapeutics for cancer-related research using CRISPR. Under the terms of the agreement, Juno had to pay Editas an initial payment of US$ 25 million, in which up to US$ 22 million will be used in research support for three programs over five years.
Competitive Landscape:
Key players operating in the global CRISPR and CAS gene market include Thermo Fisher Scientific Inc., Merck KGaA (Sigma-Aldrich), OriGene Technologies, Inc., New England Biolabs, Cellecta, Inc., Agilent Technologies, Inc., Applied StemCell, Inc., Synthego, Genscript, Mirus Bio LLC, Integrated DNA Technologies, Inc., and Mammoth Biosciences, Inc.
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Market Segmentation:
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
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Culinary Union says Palms sale will not impact negotiations on behalf of workers – KTNV Las Vegas
Posted: at 11:48 am
LAS VEGAS (KTNV) The Culinary Workers Union Local 226, representing workers in Las Vegas and throughout Nevada, says the sale of the Palms hotel-casino will not impact negotiations on behalf of workers there.
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In a statement emailed to 13 Action News, the union said:
The Culinary Union looks forward to completing a first union contract - whether its before the sale of the property is completed and the new owners are licensed, or after.
Earlier in the day, it was announced that San Manuel is purchasing the Palms for $650 million from Red Rock Resorts, the parent company of Station Casinos.
The transaction is expected to close later this year.
Culinary Workers Union Local 226 is the Nevada affiliate of UNITE HERE, representing 60,000 workers in Las Vegas and Reno.
UNITE HERE represents 300,000 workers in the gaming, hotel, and food service industries nationwide.
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Is Canada rising to the challenge? Responding to calls for more effective financial crime prevention and enforcement – Lexology
Posted: at 11:48 am
As we have observed in a number of our prior posts (e.g., our post illustrating Canadas drop from the top 10 least corrupt countries in Transparency Internationals 2020 Annual Corruption Perceptions Index), Canada has been the subject of criticism for what is perceived as lax prevention of financial/white collar wrongdoing and enforcement of related prohibitions. As we have also reported, over the past number of years, the Canadian government has introduced a number of pertinent initiatives to address these criticisms. For example, there has been increasing emphasis on money laundering recently, and Budget 2021 released April 19, 2021 by the Government of Canada announced the implementation of a beneficial ownership registry for corporations in Canada.
Most significantly, a number of amendments to the regulations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) were published in the Canada Gazette in 2019 and 2020, the bulk of which will come into force on June 1, 2021 (the Amendments). Taken together, these Amendments effect a sizeable overhaul of the anti-money laundering and terrorist financing (AML/ATF) regulatory landscape in Canada. In anticipation, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) issued new guidance in February and March of 2021 in key areas to assist reporting entities with complying with their new AML/ATF obligations. FINTRAC subsequently issued additional guidance on May 4, 2021. Given the scope and scale of these changes, FINTRAC has indicated that it will exercise an amount of discretion as it assesses compliance with the new and updated obligations under the Amendments. FINTRAC has, however, previously indicated that it does expect to enforce the new virtual currency obligations when the Amendments come into force; unless FINTRAC provides otherwise in the coming days, reporting entities should expect FINTRAC to enforce all virtual currency rules as of June 1st.
To assist individuals and businesses in navigating this regulatory overhaul, Osler has prepared a Client Guide to the changes effective on June 1 that will be of most interest to entities with obligations under the PCMLTFA (reporting entities). Our Client Guide, which was initially published April 30th, has been updated to include the additional guidance issued May 4th.
Please see here to access the Client Guide.
Below, we summarize key additions coming out of the May 4th guidance, which includes third-party identification requirements, identification methods, the travel rule, the 24-hour rule and prepaid payment products and accounts. Additional information, which includes wide-ranging updates to requirements across reporting entities obligations under the PCMLTFA, can be found in the Guide.
Third-party identification
The updated guidance describes the new third-party determination and recordkeeping requirements for large virtual currency transactions, as well as the new recordkeeping requirements that reporting entities must adhere to when third-party determinations cannot be made. The updated guidance also introduces new exemptions for financial entities, securities dealers, casinos, and life insurance companies and specifically provides that third-party determinations do not need to be made with respect to prepaid payment products for a merchant.
Identification methods for individuals and entities
The updated guidance largely contains minor changes to the prior guidance, although the format has been restructured, with several notable differences. Among other changes, the guidance introduces the reliance method for identifying both individuals and entities, which allows a reporting entity to rely on measures previously taken by another reporting entity or a foreign affiliate of a reporting entity. Although this method has been permitted under the regulations to the PCMLTFA for years, it did not previously appear in any FINTRAC guidance. The guidance also reflects the Amendments addition of the simplified identification process for entity verification, which may be used only by certain prescribed reporting entities. This method allows those prescribed entities to use a simplified process to verify other prescribed entities.
Travel rule
The new guidance from FINTRAC clarifies the travel rule requirements introduced under the Amendments. The travel rule applies only to financial entities, money services businesses, foreign money services businesses and casinos, and requires that each of these entities provide certain information when initiating electronic funds transfers or virtual currency transfers (casinos are not subject to the virtual currency requirements in the guidance). When receiving these types of transactions, reasonable measures must be taken to obtain the travel rule information. If one of these entities acts as a transfer intermediary, the travel rule prohibits the removal of the travel rule information before the transfer is sent.
24-hour rule
The updated 24-hour rule guidance issued on May 4th will only apply to large virtual currency reporting when it comes into effect on June 1st separate guidance will eventually be issued for large cash transactions, electronic funds transfers and casino disbursements. Until specific guidance for large cash transactions, electronic funds transfers and casino disbursements is issued, the prior guidance should be followed for these transaction types.
The updated guidance clarifies that the 24-hour window is static. Reporting entities can establish different static 24-hour windows for different business lines or for different types of reports, so long as the windows are consistent and reported to FINTRAC.
The updated guidance also sets out an exception to the 24-hour rule when the beneficiary of the transactions is a public body, a very large corporation, or an administrator of a regulated pension fund. However, this is not an exception to the reporting rules generally: if a public body, very large corporation or pension fund administrator is the beneficiary of any single transaction equivalent to $10,000 or more, that transaction must still be reported to FINTRAC.
Prepaid payment products and accounts
The new guidance on prepaid payment products and accounts contains definitions and obligations that reflect the Amendments, including the definition of prepaid payment account as an account connected to a prepaid payment product permitting funds or virtual currency totaling $1,000 or more to be added to the account within a 24-hour period, or that allow a balance of funds or virtual currency in the amount of $1,000 or more to be maintained in the account, excluding products that enable access to a credit or debit account or those products issued for use with a particular merchant or for a retail rebate program. The guidance further clarifies that prepaid payment product accounts do not include accounts that only a public body or registered charity acting for humanitarian purposes can add funds or virtual currency to. Prepaid payment product accounts are subject to account opening obligations and transaction obligations just like other types of accounts.
Businesses and individuals subject to obligations under the PCMLTFA need to be aware of the risks associated with increasing enforcement scrutiny of financial transactions, the preventative steps that regulators and enforcement agencies expect be taken, and the legal and reputational risks associated with failures to comply. A more in-depth summary of key changes and new obligations found in each of the May 4th FINTRAC guidance documents can now be found in the Client Guide along with other important changes due to come into effect on June 1st.
Please note that the Guide does not identify every change coming into force on June 1st. The focus of the Guide is rather on those changes that will be most important to entities with obligations under the PCMLTFA.
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Cannabis may be legalized, but criminal justice reform is still needed – The Commonwealth Times
Posted: at 11:47 am
Illustration by Lauren Johnson
Rachel Spiller, Contributing Writer
The legalization of cannabis is exciting for many Virginians. But how are we to celebrate when there are people who will remain behind bars for the crime?
The issue lies in the history of racism in the U.S. incarceration system, an institution that has been flawed since the launching of the war on drugs in the 1970s.
The legalization of recreational marijuana is officially underway in Virginia, making it the 16th state to take the step forward. In July, marijuana was decriminalized, being reduced from a felony charge to a small fine of $25 for those in possession of less than an ounce. The movement continued later in that year to legalize the drug altogether; a long-awaited and overdue reform for the commonwealth.
On April 21, Gov. Ralph Northam signed a bill that allows adults 21 and older to legally possess up to an ounce of cannabis and to grow up to four plants per household, starting July 1. Amid the great news of something that contributes to a more socially accepting society, there are many questions to be raised about the new laws in place.
According to an article from Virginia Mercury, those incarcerated on marijuana charges will remain behind bars despite the drugs legalization, which seems far from reasonable.
The history behind the criminalization of marijuana dates back nearly 100 years and can be used to explain why the U.S. currently holds the title as the most incarcerated country worldwide.
In 2018, more than 28,000 people were sentenced to time behind bars for cannabis offenses, according to the Virginia State Police annual crime report. More than half of those arrests were Black Americans, according to the American Civil Liberties Union. This is a tiring trend that we have seen for nearly 50 years since the administration of former President Richard Nixon.
In 1971, Nixon declared a war on drugs, stating the No. 1 enemy to the U.S. was drug abuse. This led to the forming of the Drug Enforcement Administration, which increased the presence of government agents in minority communities and allowed for new methods of criminalization such as no-knock warrants and mandatory sentencing.
Nixons launch of the war on drugs disproportionately affected minority communities. It has prompted a 500% increase in incarceration rates within the last 40 years with the stricter drug policies in place, while the overall population increased only 51% since 1974, according to Politifact.
Now, with more than 2 million people behind bars, our nation suffers a great tragedy.
Contrary to popular belief, the war on drugs was never about the concern of the American people and drug abuse. It has always been a matter of control in the eyes of those in political power.
Since 1970, the U.S. has felt the repercussions of the needless drug war deeply, seeing our law enforcement discriminate heavily against minorities, watching the unraveling of the American justice system and negatively impacting the lives of millions of people.
Although we are no longer living in the 1970s, the effects of the implementations set by Nixon and former President Ronald Reagan are still visible today. Statistics from the ACLU show that in 2018, more arrests were made for the possession of marijuana than any other drug class. Although white people are just as likely to use and possess marijuana at the same rate as Black Americans, there is a significant difference in the rates of those arrested for petty crime.
Americas approach on incarceration has been influenced by harsh sentencing, racial bias and a lack of public safety. There is no reason that one racial group should be affected more than another. In the 21st century, it is hard to believe that this still has to be stated. Our country has seen the impacts of racial disparities for far too long, and it is well past time for them to be addressed and diminished in todays society.
While Virginia has taken a step in the right direction by legalizing cannabis, the next steps in handling those incarcerated for marijuana charges will be the most important in the near future.
The time is now for Virginia to end a racially motivated war on the people. We must move to reform our criminal justice system with the same urgency with which we are reforming drug policy.
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Shouldnt we be amazed? After all, for almost 20 years, the U.S. military has been supporting, equipping, training, and building up the Afghan military to the tune ofmore than $70 billion. The result: a corrupt mess of a force likely to prove incapable of successfully defending the U.S.-backed Afghan state from the Taliban once our troops are gone that is, by thisSeptember 11th.
I mean, what were the odds? All too high, Im afraid, given the U.S. militarys record in Afghanistan and elsewhere in these years. (Think about thecollapseof the American-trained and armed Iraqi military in the face of ISIS in 2014.) In fact, for those of you who are old enough, a few Vietnam War-era bells should already be ringing as well, given the fate of the South Vietnamese military, supported in a similar fashion, once the U.S. pulled out of that conflict.
Recently, threeNew York Timesreporters interviewed Afghan officials and military and police figures across the country andconcludedthat Washington had
produced a troubled set of forces that are woefully unprepared for facing the Taliban, or any other threat, on their own Afghan units are rife with corruption, have lost track of the weapons once showered on them by the Pentagon, and in many areas are under constant attack Prospects for improvement are slim, given slumping recruitment, high casualty rates and a Taliban insurgency that is savvy, experienced and well equipped including with weapons originally provided to the Afghan government by the United States.
Consider that also a verdict on the crew that Americas taxpayers have invested in so staggeringly in these years. Im thinking about the Pentagon. In a set of conflicts that used to go under the title of the war on terror, but now are generally just called our forever wars, that military has essentially won nothing and, in return, continues to getever moretaxpayer dollars (just in case you think that only the Afghan military is corrupt).
As the American war in Afghanistan winds down, perhaps the only question is: Whos been on what drugs all these years? Its a subject thatTomDispatchregularand author ofIn the Shadows of the American Century: The Rise and Decline of U.S. Global PowerAlfred McCoy takes up in his always striking fashion today.
In fact, he offers us a unique look at the Afghan War as, in so many senses and at so many levels, both a drug and a drugged war. In the process, he gives the very word withdrawal new meaning. In his treatment of Americas disastrous Afghan War, he also offers a hint of the striking analysis to come in his new imperial history of the world, his latest Dispatch book due out this fall,To Govern the Globe: World Orders and Catastrophic Change.
Tom EngelhardtEditor, TomDispatch
Many of us have had a recurring nightmare. You know the one. In a fog between sleeping and waking, youre trying desperately to escape from something awful, some looming threat, but you feel paralyzed. Then, with great relief, you suddenly wake up, covered in sweat. The next night, or the next week, though, that same dream returns.
For politicians of Joe Bidens generation that recurring nightmare was Saigon, 1975. Communist tanks ripping through the streets as friendly forces flee. Thousands of terrified Vietnamese allies pounding at the U.S. Embassys gates. Helicopters plucking Americans and Vietnamese from rooftops and disgorging them on Navy ships. Sailors on those ships, now filled with refugees, shoving those million-dollar helicopters into the sea. The greatest power on Earth sent into the most dismal of defeats.
Back then, everyone in official Washington tried to avoid that nightmare. The White House had already negotiated a peace treaty with the North Vietnamese in 1973 to provide a decent interval between Washingtons withdrawal and the fall of the South Vietnamese capital. As defeat loomed in April 1975, Congress refused to fund any more fighting. A first-term senator then, Biden himselfsaid, The United States has no obligation to evacuate one, or 100,001, South Vietnamese.Yet it happened anyway. Within weeks, Saigon fell and some 135,000 Vietnamese fled, producing scenes of desperation seared into the conscience of a generation.
Unless the Afghan government were to surrender or somehow persuade the Taliban to share power, the fight for Kabul, whenever it finally occurs, could prove to be far bloodier than the fall of Saigon
Now, as president, by ordering a five-month withdrawal of all U.S. troops from Afghanistan by this September 11th, Biden seems eager to avoid the return of an Afghan version of that very nightmare. Yet that decent interval between Americas retreat and the Talibans future triumph could well prove indecently short.
The Talibans fighters have alreadycapturedmuch of the countryside, reducing control of the American-backed Afghan government in Kabul, the capital, toless than a thirdof all rural districts. Since February, those guerrillas havethreatenedthe countrys major provincial capitals Kandahar, Kunduz, Helmand, and Baghlan drawing the noose ever tighter around those key government bastions. In many provinces, as theNew York Timesreportedrecently, the police presence has already collapsed and the Afghan army seems close behind.
If such trends continue, the Taliban will soon be primed for an attack on Kabul, where U.S. airpower would prove nearly useless in street-to-street fighting. Unless the Afghan government were to surrender or somehow persuade the Taliban to share power, the fight for Kabul, whenever it finally occurs, could prove to be far bloodier than the fall of Saigon a twenty-first-century nightmare of mass flight, devastating destruction, and horrific casualties.
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With Americas nearly 20-year pacification effort there poised at the brink of defeat, isnt it time to ask the question that everyone in official Washington seeks to avoid: How and why did Washington lose its longest war?
First, we need to get rid of the simplistic answer, left over from the Vietnam War, that the U.S. somehow didnt try hard enough. In South Vietnam, a 10-year war, 58,000 American dead, 254,000 South Vietnamese combat deaths, millions of Vietnamese, Laotian, and Cambodian civilian deaths, and a trillion dollars in expenditures seem sufficient in the we tried category. Similarly, in Afghanistan, almost 20 years of fighting, 2,442 American war dead, 69,000 Afghan troop losses, andcostsof more than $2.2 trillion should spare Washington from any charges of cutting and running.
The answer to that critical question lies instead at the juncture of global strategy and gritty local realities on the ground in the opium fields of Afghanistan. During the first two decades of what would actually be a 40-year involvement with that country, a precise alignment of the global and the local gave the U.S. two great victories first, over the Soviet Union in 1989; then, over the Taliban, which governed much of the country in 2001.
During the nearly 20 years of U.S. occupation that followed, however, Washington mismanaged global, regional, and local politics in ways that doomed its pacification effort to certain defeat. As the countryside slipped out of its control and Taliban guerrillas multiplied after 2004, Washington tried everything a trillion-dollar aid program, a 100,000 troop surge, a multi-billion-dollar drug war but none of it worked. Even now, in the midst of a retreat in defeat, official Washington has no clear idea why it ultimately lost this 40-year conflict.
Just four years after the North Vietnamese army rolled into Saigon driving Soviet-made tanks and trucks, Washington decided to even the score by giving Moscow its own Vietnam in Afghanistan. When the Red Army occupied Kabul in December 1979, President Jimmy Carters national security advisor, Zbigniew Brzezinski, crafted agrand strategyfor a CIA covert war that would inflict a humiliating defeat on the Soviet Union.
Building upon an old U.S. alliance with Pakistan, the CIA worked through that countrys Inter Service Intelligence agency (ISI) to deliver millions, then billions of dollars in arms to Afghanistans anti-Soviet guerrillas, known as themujahideen, whose Islamic faith made them formidable fighters. As a master of geopolitics, Brzezinski forged a near-perfect strategic alignment among the U.S., Pakistan, and China for a surrogate conflict against the Soviets. Locked into a bitter rivalry with its neighbor India that erupted in periodic border wars, Pakistan was desperate to please Washington, particularly since, ominously enough, India had only recently tested its first nuclear bomb.
Throughout the long years of the Cold War, Washington was Pakistans main ally, providing ample military aid and tilting its diplomacy to favor that country over India. To shelter beneath the U.S. nuclear umbrella, the Pakistanis were, in turn, willing to risk Moscows ire by serving as the springboard for the CIAs secret war on the Red Army in Afghanistan.
Beneath that grand strategy, there was a grittier reality taking shape on the ground in that country. While themujahideencommanders welcomed the CIAs arms shipments, they also needed funds to sustain their fighters and soon turned to poppy growing and opium trafficking for that. As Washingtons secret war entered its sixth year, aNew York Timescorrespondent travelling through southern Afghanistandiscovereda proliferation of poppy fields that was transforming that arid terrain into the worlds main source of illicit narcotics. We must grow and sell opium to fight our holy war against the Russian nonbelievers, one rebel leader told the reporter.
In fact, caravans carrying CIA arms into Afghanistan often returned to Pakistan loaded with opium sometimes,reportedtheNew York Times,with the assent of Pakistani or American intelligence officers who supported the resistance. During the decade of the CIAs secret war there, Afghanistans annual opium harvest soared from a modest 100 tons to a massive 2,000 tons. To process the raw opium into heroin, illicit laboratories opened in the Afghan-Pakistani borderlands that, by 1984, supplied a staggering 60% of the U.S. market and 80% of the European one. Inside Pakistan, the number of heroin addictssurgedfrom almost none at all in 1979 to nearly 1.5 million by 1985.
By 1988, there were an estimated 100 to 200 heroin refineries in the area around the Khyber Pass inside Pakistan operating under the purview of the ISI. Further south, an Islamist warlord named Gulbuddin Hekmatyar, the CIAs favored Afghan asset,controlledseveral heroin refineries that processed much of the opium harvest from the countrys southern provinces. In May 1990, as that secret war was ending, theWashington Postreportedthat American officials had failed to investigate drug dealing by Hekmatyar and his protectors in Pakistans ISI largely because U.S. narcotics policy in Afghanistan has been subordinated to the war against Soviet influence there.
Charles Cogan, director of the CIAs Afghan operation, laterspokefrankly about the Agencys priorities. We didnt really have the resources or the time to devote to an investigation of the drug trade, he told an interviewer. I dont think that we need to apologize for this There was fallout in term of drugs, yes. But the main objective was accomplished. The Soviets left Afghanistan.
There was also another kind of real fallout from that secret war, though Cogan didnt mention it. While it was hosting the CIAs covert operation, Pakistan played upon Washingtons dependence and its absorption in its Cold War battle against the Soviets to develop ample fissionable material by 1987 for its own nuclear bomb and, a decade later, to carry out a successful nuclear test thatstunnedIndia and sent strategic shockwaves across South Asia.
Simultaneously, Pakistan was also turning Afghanistan into a virtual client state. For three years following the Soviet retreat in 1989, the CIA and Pakistans ISI continued to collaborate in backing a bid by Hekmatyar to capture Kabul, providing him with enough firepower to shell the capital andslaughtersome 50,000 of its residents. When that failed, from the millions of Afghan refugees inside their borders, the Pakistanis alone formed a new force that came to be called the Taliban sound familiar? and armed them toseizeKabul successfully in 1996.
In the aftermath of the September 2001 terrorist attacks, when Washington decided to invade Afghanistan, the same alignment of global strategy and gritty local realities assured it another stunning victory, this time over the Taliban who then ruled most of the country. Although its nuclear arms now lessened its dependence on Washington, Pakistan was still willing to serve as a springboard for the CIAs mobilization of Afghan regional warlords who, in combination with massive U.S. bombing, soon swept the Taliban out of power.
Although American air power readily smashed its armed forces seemingly, then, beyond repair that theocratic regimes real weakness lay in its gross mismanagement of the countrys opium harvest. After taking power in 1996, the Taliban had first doubled the countrys opium crop to an unprecedented4,600 tons, sustaining the economy while providing 75% of the worlds heroin. Four years later, however, the regimes ruling mullahs used their formidable coercive powers to make a bid for international recognition at the U.N. by slashing the countrys opium harvest to a mere185 tons. That decision would plunge millions of farmers into misery and, in the process, reduce the regime to a hollow shell that shattered with the first American bombs.
While the U.S. bombing campaign raged through October 2001, the CIAshipped$70 million in bundled bills into Afghanistan to mobilize its old coalition of tribal warlords for the fight against the Taliban. President George W. Bush would latercelebratethat expenditure as one of historys biggest bargains.
Almost from the start of what became a 20-year American occupation, however, the once-perfect alignment of global and local factors started to break apart for Washington. Even as the Taliban retreated in chaos and consternation, those bargain-basement warlords captured the countryside and promptly presided over a revived opium harvest thatclimbedto 3,600 tons by 2003, or an extraordinary 62% of the countrys gross domestic product (GDP). Four years later, the drug harvest wouldreacha staggering 8,200 tons generating 53% of the countrys GDP, 93% of the worlds illicit heroin, and, above all, ample funds for a revival of yes, you guessed it, the Talibans guerrilla army.
Stunned by the realization that its client regime in Kabul was losing control of the countryside to the once-again opium-funded Taliban, the Bush White House launched a $7-billion drug war that soonsankinto a cesspool of corruption and complex tribal politics. By 2009, the Taliban guerrillas were expanding so rapidly that the new Obama administration opted for a surge of 100,000 U.S. troops there.
By attacking the guerrillas but failing to eradicate the opium harvest that funded their deployment every spring, Obamas surge soon suffered a defeat foretold.
By attacking the guerrillas but failing to eradicate the opium harvest that funded their deployment every spring, Obamas surge soon suffered a defeat foretold. Amid a rapid drawdown of those troops to meet the surges use-by date of December 2014 (as Obama had promised), the Talibanlaunchedthe first of its annual fighting-season offensives that slowly wrested control of significant parts of the countryside from the Afghan military and police.
By 2017, the opium harvest hadclimbedto a new record of 9,000 tons, providing about60% of the fundingfor the Talibans relentless advance. Recognizing the centrality of the drug trade in sustaining the insurgency, the U.S. commanddispatchedF-22 fighters and B-52 bombers to attack the Talibans labs in the countrys heroin heartland. In effect, it was deploying billion-dollar aircraft to destroy what turned out to be 10 mud huts, depriving the Taliban of just$2,800in tax revenues. To anyone paying attention, the absurd asymmetry of that operation revealed that the U.S. military was being decisively outmaneuvered and defeated by the grittiest of local Afghan realities.
At the same time, the geopolitical side of the Afghan equation was turning decisively against the American war effort. With Pakistan moving ever closer to China as a counterweight to its rival India and U.S.-China relations becoming hostile, Washington grew increasingly irritated with Islamabad. At a summit meeting in late 2017, President Trump and Indias Prime Minister Modijoinedwith their Australian and Japanese counterparts to form the Quad (known more formally as the Quadrilateral Security Dialogue), an incipient alliance aimed at checking Chinas expansion that soon gained substance through joint navalmaneuversin the Indian Ocean.
Within weeks of that meeting, Trump would trash Washingtons 60-year alliance with Pakistan with a single New Years Daytweetclaiming that country had repaid years of generous U.S. aid with nothing but lies & deceit. Almost immediately, Washington announced suspension of its military aid to Pakistan until Islamabad took decisive action against the Taliban and its militant allies.
With Washingtons delicate alignment of global and local forces now fatally misaligned, both Trumps capitulation at peace talks with the Taliban in 2020 and Bidens coming retreat in defeat were preordained. Without access to landlocked Afghanistan from Pakistan, U.S. surveillance drones and fighter-bombers now potentially face a 2,400-mile flight from the nearest bases in the Persian Gulf too far for effective use of airpower to shape events on the ground (though Americas commanders arealready searching desperatelyfor air bases in countries far nearer to Afghanistan to use).
China and the U.S. Struggle over Eurasia, the Epicenter of World Power : For two decades, as China climbed toward global eminence, Washingtons inside-the-Beltway power elite was blinded by its overarching dreams of eternal military omnipotence. https://t.co/a2L4Nmsszm #china pic.twitter.com/tb7IEfZJCV
Unlike a simple victory, this defeat offers layers of meaning for those with the patience to plumb its lessons. During a government investigation of what went wrong back in 2015, Douglas Lute, an Army general who directed Afghan war policy for the Bush and Obama administrations,observed: We were devoid of a fundamental understanding of Afghanistan we didnt know what we were doing. With American troops now shaking the dust of Afghanistans arid soil off their boots, future U.S. military operations in that part of the globe are likely to shift offshore as the Navy joins the rest of the Quads flotilla in a bid to check Chinas advance in the Indian Ocean.
Beyond the closed circles of official Washington, this dismal outcome has more disturbing lessons. The many Afghans who believed in Americas democratic promises will join a growing line of abandoned allies, stretching back to the Vietnam era and including, more recently, Kurds, Iraqis, and Somalis, among others. Once the full costs of Washingtons withdrawal from Afghanistan become apparent, the debacle may, not surprisingly, discourage potential future allies from trusting Washingtons word or judgment.
Much as the fall of Saigon made the American people wary of such interventions for more than a decade, so a possible catastrophe in Kabul will likely (one might even say, hopefully) produce a long-term aversion in this country to such future interventions. Just as Saigon, 1975, became the nightmare Americans wished to avoid for at least a decade, so Kabul, 2022, could become an unsettling recurrence that only deepens an American crisis of confidence at home.
When the Red Armys last tanks finally crossed the Friendship Bridge and left Afghanistan in February 1989, that defeat helped precipitate the complete collapse of the Soviet Union and the loss of its empire within a mere three years. The impact of the coming U.S. retreat in Afghanistan will undoubtedly be far less dramatic. Still, it will be deeply significant. Such a retreat after so many years, with the enemy if not at the gates, then closing in on them, is a clear sign that imperial Washington has reached the very limits of what even the most powerful military on earth can do.
Or put another way, there should be no mistake after those nearly 20 years in Afghanistan. Victory is no longer in the American bloodstream (a lesson that Vietnam somehow did not bring home), though drugs are. The loss of the ultimate drug war was a special kind of imperial disaster, giving withdrawal more than one meaning in 2021. So, it wont be surprising if the departure from that country under such conditions is a signal to allies and enemies alike that Washington hasnt a hope of ordering the world as it wishes anymore and that its once-formidable global hegemony is truly waning.
Alfred W. McCoy
Reposted with permission from TomDispatch
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Explained: Quantum engineering | MIT News | Massachusetts …
Posted: at 11:45 am
Since the 1940s, classical computers have improved at breakneck speed. Today you can buy a wristwatch with more computing power than the state-of-the-art, room-sized computer from half a century ago. These advances have typically come through electrical engineers ability to fashion ever smaller transistors and circuits, and to pack them ever closer together.
But that downsizing will eventually hit a physical limit as computer electronics approach the atomic level, it will become impossible to control individual components without impacting neighboring ones. Classical computers cannot keep improving indefinitely using conventional scaling.
Quantum computing, an idea spawned in the 1980s, could one day carry the baton into a new era of powerful high-speed computing. The method uses quantum mechanical phenomena to run complex calculations not feasible for classical computers. In theory, quantum computing could solve problems in minutes that would take classical computers millennia. Already, Google has demonstrated quantum computings ability to outperform the worlds best supercomputer for certain tasks.
But its still early days quantum computing must clear a number of science and engineering hurdles before it can reliably solve practical problems. More than 100 researchers across MIT are helping develop the fundamental technologies necessary scale up quantum computing and turn its potential into reality.
What is quantum computing?
It helps to first understand the basics of classical computers, like the one youre using to read this story. Classical computers store and process information in binary bits, each of which holds a value of 0 or 1. A typical laptop could contain billions of transistors that use different levels of electrical voltage to represent either of these two values. While the shape, size, and power of classical computers vary widely, they all operate on the same basic system of binary logic.
Quantum computers are fundamentally different. Their quantum bits, called qubits, can each hold a value of 0, 1, or a simultaneous combination of the two states. Thats thanks to a quantum mechanical phenomenon called superposition. A quantum particle can act as if its in two places at once, explains John Chiaverini, a researcher at the MIT Lincoln Laboratorys Quantum Information and Integrated Nanosystems Group.
Particles can also be entangled with each other, as their quantum states become inextricably linked. Superposition and entanglement allow quantum computers to solve some kinds of problems exponentially faster than classical computers, Chiaverini says.
Chiaverini points to particular applications where quantum computers can shine. For example, theyre great at factoring large numbers, a vital tool in cryptography and digital security. They could also simulate complex molecular systems, which could aid drug discovery. In principle, quantum computers could turbocharge many areas of research and industry if only we could build reliable ones.
How do you build a quantum computer?
Quantum systems are not easy to manage, thanks to two related challenges. The first is that a qubits superposition state is highly sensitive. Minor environmental disturbances or material defects can cause qubits to err and lose their quantum information. This process, called decoherence, limits the useful lifetime of a qubit.
The second challenge lies in controlling the qubit to perform logical functions, often achieved through a finely tuned pulse of electromagnetic radiation. This manipulation process itself can generate enough incidental electromagnetic noise to cause decoherence. To scale up quantum computers, engineers will have to strike a balance between protecting qubits from potential disturbance and still allowing them to be manipulated for calculations. This balance could theoretically be attained by a range of physical systems, though two technologies currently show the most promise: superconductors and trapped ions.
A superconducting quantum computer uses the flow of paired electrons called Cooper pairs through a resistance-free circuit as the qubit. A superconductor is quite special, because below a certain temperature, its resistance goes away, says William Oliver, who is an associate professor in MITs Department of Electrical Engineering and Computer Science, a Lincoln Laboratory Fellow, and the director of the MIT Center for Quantum Engineering.
The computers Oliver engineers use qubits composed of superconducting aluminum circuits chilled close to absolute zero. The system acts as an anharmonic oscillator with two energy states, corresponding to 0 and 1, as current flows through the circuit one way or the other. These superconducting qubits are relatively large, about one tenth of a millimeter along each edge thats hundreds of thousands of times larger than a classical transistor. A superconducting qubits bulk makes it easy to manipulate for calculations.
But it also means Oliver is constantly fighting decoherence, seeking new ways to protect the qubits from environmental noise. His research mission is to iron out these technological kinks that could enable the fabrication of reliable superconducting quantum computers. I like to do fundamental research, but I like to do it in a way thats practical and scalable, Oliver says. Quantum engineering bridges quantum science and conventional engineering. Both science and engineering will be required to make quantum computing a reality.
Another solution to the challenge of manipulating qubits while protecting them against decoherence is a trapped ion quantum computer, which uses individual atoms and their natural quantum mechanical behavior as qubits. Atoms make for simpler qubits than supercooled circuits, according to Chiaverini. Luckily, I dont have to engineer the qubits themselves, he says. Nature gives me these really nice qubits. But the key is engineering the system and getting ahold of those things.
Chiaverinis qubits are charged ions, rather than neutral atoms, because theyre easier to contain and localize. He uses lasers to control the ions quantum behavior. Were manipulating the state of an electron. Were promoting one of the electrons in the atom to a higher energy level or a lower energy level, he says.
The ions themselves are held in place by applying voltage to an array of electrodes on a chip. If I do that correctly, then I can create an electromagnetic field that can hold on to a trapped ion just above the surface of the chip. By changing the voltages applied to the electrodes, Chiaverini can move the ions across the surface of the chip, allowing for multiqubit operations between separately trapped ions.
So, while the qubits themselves are simple, fine-tuning the system that surrounds them is an immense challenge. You need to engineer the control systems things like lasers, voltages, and radio frequency signals. Getting them all into a chip that also traps the ions is what we think is a key enabler.
Chiaverini notes that the engineering challenges facing trapped ion quantum computers generally relate to qubit control rather than preventing decoherence; the reverse is true for superconducting-based quantum computers. And of course, there are myriad other physical systems under investigation for their feasibility as quantum computers.
Where do we go from here?
If youre saving up to buy a quantum computer, dont hold your breath. Oliver and Chiaverini agree that quantum information processing will hit the commercial market only gradually in the coming years and decades as the science and engineering advance.
In the meantime, Chiaverini notes another application of the trapped ion technology hes developing: highly precise optical clocks, which could aid navigation and GPS. For his part, Oliver envisions a linked classical-quantum system, where a classical machine could run most of an algorithm, sending select calculations for the quantum machine to run before its qubits decohere. In the longer term, quantum computers could operate with more independence as improved error-correcting codes allow them to function indefinitely.
Quantum computing has been the future for several years, Chiaverini says. But now the technology appears to be reaching an inflection point, shifting from solely a scientific problem to a joint science and engineering one quantum engineering a shift aided in part by Chiaverini, Oliver, and dozens of other researchers at MITs Center for Quantum Engineering (CQE) and elsewhere.
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Bitcoin vs. Ethereum: 10 experts told us which asset they’d rather hold, and why – Markets Insider
Posted: at 11:44 am
Bitcoin vs. Ethereum
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Bitcoin has long been the dominant cryptocurrency, but recently Ethereum's native token, ether, has emerged as more than just a clear number two.
In 2021, ether has made gains on bitcoin in terms of market cap, and investors are taking note.
While the two cryptocurrencies are very different in terms of their architecture and use cases, both are top options for cryptocurrency investors long-term.
With that in mind, Insider decided to reach out to the experts to see which cryptocurrency they believe offers the most upside over the long haul.
We asked crypto industry CEOs, analysts, co-founders, and more which asset they'd rather hold for the next ten years and why.
Here's what they had to say.
Bitcoin Bulls
1. "We are strong believers in both Bitcoin and Ethereum. That being said, if we absolutely have to choose... we would prefer holding Bitcoin over Ethereum for the next few years. While Ethereum leads in terms of innovation and current use cases, Bitcoin leads in terms of security and proven track record. Most importantly, we believe it's a great store of value and has all the properties of a reserve asset." - Peter Wall, CEO of Argo Blockchain
2. "Bitcoin will be as transformative for money as the Internet was for information. By mid-2028, bitcoin's market cap will overtake gold's market cap, demonstrating that it is the best store-of-value asset for a digital-first world. But it doesn't stop at store-of-value. Bitcoin is both a decentralized monetary settlement network and a digitally scarce asset. Today, Ethereum powers most of the DeFi (decentralized finance) platforms, but in the near future, we'll be able to build DeFi platforms on top of Bitcoin thanks to layer 2 solutions. Eventually, Bitcoin will become both the global standard of value and the monetary settlement layer of the world. For these reasons, I have put most of my liquid assets into Bitcoin, not Ethereum." - Jason Yanowitz, Co-founder of Blockworks
3. "Bitcoin is strengthening its position as a store of value and the narratives around BTC as "hedge against potential inflation" and "potential replacement for gold" is becoming more clear. With all the big firms entering the space with multiple financial institutions starting to hold BTC on their balance sheet, there is more upside and price will be driven mostly by increased participation in the ecosystem." - Ken Nakamura, CEO of GMO-Z.com Trust Company
4. "To me, it's a no-brainer. Bitcoin is the name brand everyone knows and has proven its staying power. Ethereum is the New Kid on The Block and challenger. ETH has been sold as having mystical practical applications, but in reality, it's inefficient, struggles to operate at scale, and is not a hedge against inflation." - Jamie Finn, President & Co-founder of Securitize
Read more: Fundstrat's head of digital assets research walks us through his $100,000 and $10,500 year-end price targets for bitcoin and ether - and shares the 8 tokens he's bullish on
1. "I do believe the potential upside on Ethereum tends to be a bit greater from its utility, functionality, and ecosystem. Voyager's customers, who own both Bitcoin and Ethereum, have shifted their cryptocurrency allocations in the past few months to increase their Ethereum holdings, on which they can earn 5.25% interest APR. We're also seeing our larger investors more comfortable taking on Ethereum's risk and reward profile. The Ethereum blockchain powers the most established ecosystem for decentralized finance, utility tokens, and NFTs, all of which are gaining mainstream traction. Ethereum will also be soon undergoing an upgrade that will accelerate the speed of ETH transactions, reduce transaction fees, and restrict its circulating supply." - Steve Ehrlich, CEO, and founder of crypto-asset broker Voyager Digital
2. "The technological advantage and utility of Ethereum blockchain is far greater than that of Bitcoin, and I think investors are noticing that, as well. There are over $75 billion currently locked in DeFi projects on the Ethereum blockchain, and only 30 days ago, it was $40 billion. For those that believe in the demand of DeFi for services like lending, borrowing, trading, insurance, monetary issuance, they should be paying more attention to the Ethereum blockchain. It's a network that supports smart contractsthey alone carry limitless potential and should be enough for Ethereum to have a competitive advantage over bitcoin and its applications in our everyday lives. I'm in the Ethereum camp." - Tally Greenberg, Head of Business Development at Allnodes
3. "Institutional investor recognition of ETH as a real and valuable asset has been long-awaited and anticipated. I foresee the current trend of Ethereum's price increase gaining more momentum, leading to a shift in capital flowing into Ethereum - as investors become educated on what Ethereum is and how the technology is going to shape the futureTechnicals and fundamentals show there is greater long term upside potential for ETH than BTCMost banks, institutions, and investment funds have mandated investments towards clean, environmentally sustainable industries and technologies. Concerns on how and where the majority of bitcoin is mined today could negatively impact the assets price long termEthereum's upcoming network upgrades, EIP1559 and Proof-of-Stake, will make ETH a deflationary asset while providing a reduction in gas fees and reducing the total supply Ethereum. When these two shifts occur, they could push Ethereum over the $1T market cap. Whether Ethereum's network changes ignite a supercycle or not, the asset undoubtedly has 5X more developers, more on-chain activity, and exponentially more active use cases than any other chain." - Megan Kaspar, Managing Director of Magnetic
4. "I think Bitcoin will always have some level of acceptance being the flagship crypto and a perceived store of value within the space. However, the blockchain technology of Ethereum having more applicability and functionality (including recent smart contracts for NFTs) makes it potentially more of an attractive longer-term play. Also, the current price disparity between the two might make Ethereum seem more affordable to the average investor as well." - Ed Egilinsky, Managing Director - Head of Alternative Investments at Direxion
1. "The world can be broadly split into traders and investors. Traders focus on short-term price movements and arbitrage opportunities and rightly are excited by Bitcoin versus Ethereum relative movements right now. Investors focus on what the future will be like, what are the tailwinds driving projects forward, and how value will be captured by some and lost by others. For investors, BOTH Bitcoin and Ethereum need to be in your portfolio right nowBitcoin has a chance of remaining the leading crypto asset in the world, while Ethereum has a chance of remaining the leading distributed software development platform in the world. Both positions of leadership would capture trillions of dollars of value in ten years' time. So invest in both now." - Matthew Le Merle, Chairman of Blockchain Coinvestors
2. "Bitcoin's market cap as of last week has fallen below 50% of the crypto market for the first time since 2019 and is down over 30% overall since January. In our work with large institutions, we're seeing increased demand for Bitcoin and Ethereum as well as alternative coins. We believe institutional investors and corporate treasuries will hold onto both BTC and ETH assets, as their adoption and the market matures." - Raghu Yarlagadda, CEO of FalconX
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Bitcoin vs. Ethereum: 10 experts told us which asset they'd rather hold, and why - Markets Insider
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